SINGAPORE: Some Singapore stocks are attracting attention this month due to interesting corporate developments that could influence stock prices to go higher.
Here are four Singapore stocks you should keep an eye on this March, according to The Smart Investor:
1. Credit Bureau Asia
First up is Credit Bureau Asia, known as CBA, which provides credit and risk information solutions. In 2023, the company showcased impressive growth, with revenue climbing by 11.4% to S$54.2 million.
Net profit also surged by 17% to S$9.8 million, alongside an increase in free cash flow to S$24.9 million.
CBA raised its final dividend from S$0.017 to S$0.02, plus the S$0.017 interim dividend paid out in Sept 2023; the total fiscal year dividend came up to S$0.037, leading to a total dividend yield of 4.1%.
Eyeing further expansion, the company is exploring acquisitions to widen its market presence.
2. Singapore Technologies Engineering Ltd
Next on the list is Singapore Technologies Engineering Ltd, commonly known as STE, a technology, defence, and engineering group. In 2023, STE displayed robust financial performance, with revenue climbing by 11.8% to S$10.1 billion and operating profit surging by 24.4% to S$914.7 million.
Despite challenges, net profit increased by 10% to S$586 million, or 24% when excluding one-off items. STE’s order book also strengthened to S$27.4 billion, providing a solid foundation for future growth.
The company distributed a total dividend of S$0.16 for 2023.
STE also secured S$14.8 billion in new contracts, boosting its order book to S$27.4 billion by Dec 31. About S$7.9 billion of this is slated for delivery this year.
3. Straco Corporation Limited
Another notable stock is Straco Corporation Limited, a developer and operator of tourism-related assets. With tourism rebounding in 2023, Straco witnessed a significant revenue increase, nearly tripling from S$28.2 million to S$82.1 million.
Net profit turned positive, reaching S$25.7 million, a notable turnaround from the previous year’s loss.
The company distributed a total dividend of S$0.02 for 2023, double that of 2022. Optimism surrounding tourism recovery in China and Singapore further fuels investor interest in Straco.
4. ComfortDelGro Corporation Ltd
Finally, ComfortDelGro Corporation Ltd, or CDG, a mobility service provider, also grabbed attention with its 2023 performance.
Despite modest revenue growth of 2.6% to S$3.9 billion, CDG showcased resilience with a 4.3% increase in net profit to S$180.5 million. Notably, after adjusting for one-off items, net profit surged by 26.6%.
The company declared a final ordinary dividend of S$0.0376, plus the interim dividend of 2023 which was S$0.029, the total dividend is S$0.0666 for a payout ratio of 80%.
These stocks offer promising opportunities backed by strong financial performances and strategic developments. Keep an eye on these stocks for potential capital gains and dividend returns! /TISG
Read also: 4 Singapore blue-chip stocks with higher profits and dividends
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